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Prepare pro forma income statement in contribution format

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Reference no: EM133043928

Problem - Vernon Manufacturing Company established the following standard price and cost data.

Sales price $8.90 per unit

Variable manufacturing cost $3.60 per unit

Fixed manufacturing cost $2,000 total

Fixed selling and administrative cost $700 total

Vernon planned to produce and sell 2,500 units. Actual production and sales amounted to 2,700 units.

Required -

a. Prepare the pro forma Income statement in contribution format that would appear in a master budget.

b. Prepare the pro forma Income statement in contribution format that would appear in a flexible budget.

Reference no: EM133043928

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